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Fischer Medical Ventures & The Therapy Platform Partner for Mental Health Advancements

Written by : Aishwarya Sarthe

June 6, 2024

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This collaboration aims to address the significant unmet needs in the mental health sector worldwide.

Fischer Medical Ventures, formerly known as Fischer Chemic, announced a global partnership with Singapore-based The Therapy Platform, a technology-driven mental health startup,  to enhance mental healthcare. 

This collaboration aims to address the significant unmet needs in the mental health sector worldwide.

Fischer Medical Ventures, operating from Chennai, is a leading manufacturer of cost-effective, high-quality Magnetic Resonance Imaging (MRI) systems in India. 

Additionally, the company claims to be the first Indian company to manufacture such advanced medical imaging equipment domestically.

Commenting on the same, Ravindran Govindan, chairman and MD of Fischer Medical Ventures, said, “We consider this sector as essential healthcare yet heavily under-served and intend to take global leadership in this space. By harnessing the power of AI and advanced technology, we aim to offer comprehensive diagnostic and monitoring solutions that can empower healthcare providers and patients to take control of their mental health journey while reducing the burden on the caregivers and society.”

Advancing Mental Healthcare with Technology

Beyond medical imaging, Fischer Medical Ventures aims to diversify its diagnostic solutions portfolio, strongly emphasizing mental health. 

The partnership with The Therapy Platform, seeks to enhance psychological counseling services. 

Founded in 2019 by Sarah Poh, The Therapy Platform is a service designed to offer accessible and secure mental health care. It connects individuals and groups with qualified counselors and psychologists for issues such as workplace stress, mental health concerns, and relationship problems. 

Additionally, The Therapy Platform focuses on reducing psychological distress, lowering mental healthcare costs, and addressing socio-economic challenges.

Sharing insights, Sarah Poh, founder of The Therapy Platform, said, “A significant global population grappled with mental disorders, yet only estimated 10-12% sought assistance largely due to stigma, lack of awareness, and limited access to professional help. Our AI chatbots enable users to access mental health support discreetly and affordably on our platform, with those requiring additional assistance being connected with a professional.”

Pioneering Indigenous MRI Systems

In a notable development, Fischer Medical Ventures manufactured India's first indigenous MRI systems. This achievement is a milestone in reducing the nation's reliance on imported medical devices, which currently account for 80-85% of the sector's equipment, leading to an import bill exceeding INR 63,200 Cr.

These MRI systems are produced at Fischer Medical Ventures' facility in the Andhra Pradesh MedTech Zone (AMTZ) in Visakhapatnam. AMTZ, recognized as India's premier medical technology park, provides a supportive environment for production, complete with advanced facilities and a skilled workforce. 

This strategic location allows Fischer Medical Ventures to utilize local resources and expertise effectively.



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